The Curse of Deregulation
A consideration of the economy since the
deregulation of certain key industries.
As I look at today's state of American business I
sometimes wonder what are some of the causes of their descent into unfettered
greed and loss of time. And while some of these issues would take a book, I
would like to explore the impact f
deregulation.
A short history might
give us a perspective. Prior to the stock market crash of 1929, business was
mostly unregulated, with the exception of the Sherman Anti trust act which
passed in the earlier part of the century. After the crash to prevent it from
happening again a number of laws were passed to regulate and oversee certain
businesses. But I digress. Their were certain industries that the Government
thought that if they could give them a near monopoly either nationwide or within
certain areas that that could benefit the country. So they made a deal with
AT&T to guarantee them a profit and monopoly but they would have to wire the
country for telephone service, even the money losing rural areas. And it worked
for a long time. As a result everyone had telephone service, we had qualified
employees wiring our homes and towns. And because they were union jobs the
employees got good wages and benefits. With those wages and benefits they were
able to live the American dream of home ownership and sending their kids to
college
Posted: Wed - October 8, 2003 at 12:28 AM